In terms of government policies and how the economy may perform it matters a lot who wins. Since Trump won, and if you believe that Project 2025 is a guide to what he may attempt to do, there are plenty of challenges that may arise. First, he has questioned the independence of the Federal Reserve, which is a “quasi- independent” federal agency that has significant influence on how the economy has performed and how the economy will perform. Second, he has advocated instituting a broad tariff policy. Both issues will be discussed. Then, if his past management of tax policy is to be a guide, one might expect further adjustments to tax schedules that (a) favor the most affluent and (b) increase the federal deficit. These topics will also be covered.